Round of applause, please
Dear Sir,
Congratulations are in order for the Minister of Finance and the Minister of Economy and Labour on the policies contained within the Economic Empowerment Zone.
The EEZ policies include reduced taxes such as deferral for some years on land tax, payroll tax and custom duty. The EEZ policies also removed development hindrances such as anti-foreign ownership.
The EEZ tax policy is a complete 180 from the contradictory arguments in favour of new corporate income taxes. I believe their argument was that more/higher taxes are necessary for lower taxes. It sounds dumb unless you're sitting in Parliament.
Back to the EEZ policies: highly uncanny and deserving of a round of applause.
Permit me to ask, though: if such policies achieve what the ministers think they will, why not apply them everywhere and, in most cases, permanently?
Surely both they and the milquetoast Opposition want what is best for all of Bermuda? Or do they each have higher agendas?
ANTHONY DONAGHY
Pembroke
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